Why We're Taking On Zillow In Its Own Backyard
REX Co-Founders Jack Ryan and Lynley Sides lay out in RealClearMarkets why the company is challenging Zillow and NAR in court
Zillow made home shopping easier with its ubiquitous search tools. But the Seattle-based company recently broke with its long-time role as an independent platform when it joined the National Association of Realtors (NAR) and agreed to follow the powerful trade group’s rules. Many of those rules prop up the legacy models of NAR’s own members at the expense of consumers who are forced to pay thousands—if not, tens of thousands of dollars—in excessive realtor commissions every time they buy and sell a home.
That’s why our company, REX, is challenging one of those rules in Zillow’s backyard, in Seattle federal court. We founded REX to make home shopping more affordable. Austin, where REX is based, has among the highest average home-buying commissions in the country, but Seattle’s aren’t far behind.
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